On July 26, 2022, OSG Group Holdings, Inc. and nineteen (19) of its subsidiaries (collectively, the "Debtors") commenced the solicitation of votes from Holders of Class 1 Existing First Lien Claims, Class 2 Existing Second Lien Claims, and Class 6 Sponsor Contributions as of the voting record date of July 25, 2022 at 5:00 P.M. (prevailing Eastern Time) with respect to the Joint Prepackaged Chapter 11 Plan of Reorganization of OSG Group Holdings, Inc. and Its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code (as amended, supplemented, or otherwise modified from time to time, the “Plan”).  A copy of which is attached as Exhibit A to the Disclosure Statement for the Joint Prepackaged Chapter 11 Plan of Reorganization of OSG Group Holdings, Inc. and Its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code (as amended, supplemented, or otherwise modified from time to time, the “Disclosure Statement”).

 

As of the voting deadline on August 4, 2022 at 4:00 p.m. (prevailing Eastern Time), the Debtors received overwhelming support for the Plan. Specifically, (i) 99.17% in number of Holders of Class 1 Existing First Lien Claims collectively holding 98.46% in amount of Class 1 Existing First Lien Claims cast a ballot and voted to accept the Plan, (ii) 100% in number of Holders of Class 2 Existing Second Lien Claims collectively holding 100% in amount of Class 2 Existing Second Lien Claims cast a ballot and voted to accept the Plan, and (iii) 100% in number of the Holder of Class 6 Sponsor Contributions holding 100% in amount of Class 6 Sponsor Contributions cast a ballot and voted to accept the Plan.

 

On August 6, 2022 (the "Petition Date"), the Debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. The Debtors' bankruptcy cases are pending joint administration under case no. 22-10718 before the Honorable John T. Dorsey in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court").

 

A hearing on the Debtors' First-Day Motions will be held on Tuesday, August 9, 2022 at 10:00 a.m. (prevailing Eastern Time) before the Bankruptcy Court. Please click HERE to view and download the Debtors’ First Day Motions.

 

A hearing on the adequacy of the Disclosure Statement and Confirmation of the Plan will be held on August 29, 2022 at 10:00 a.m (prevailing Eastern Time) before the Bankruptcy Court.  Please click HERE to view and download the Disclosure Statement, the Plan, and related pleadings related to confirmation of the Plan.

 

Additional information about the bankruptcy cases may be obtained by calling 855.373.8145 (Toll-Free) or 949.296.9440 (International). You may also submit an inquiry via email by clicking HERE.

 

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The information included on this website is for informational purposes only, and nothing herein, including in the Plan, the Disclosure Statement or otherwise, shall constitute a solicitation of any holders of any of our indebtedness or our securities with respect to the matters contemplated in the RSA or an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities of the Company.


The Disclosure Statement includes certain financial projections as to future performance which have not been previously publicly disclosed by the Company, as well as other statements as to future events or matters. The foregoing, as well as any other statements not related to historical facts, are forward-looking statements based on the current expectations and observations of the Company’s management, and only reflect such expectations and observations as of the date made.  All of these statements are subject to risks as more detailed in the Plan and Disclosure Statement, and subject to change, whether as a result of amendments, actions of third parties or otherwise. If any of these risks were to materialize, or any such changes were to occur, that could cause actual results to differ materially.  The Company undertakes no obligations to update any of these forward-looking statements except as required by applicable law. 

Debtors

OSG Intermediate Holdings, Inc.
Case No. 22-10719

20 Debtors

Dates

Effective Date August 31, 2022

Omnibus Hearing (Cancelled) November 02, 2022 (10:00 AM ET)

Hearing (Cancelled) November 29, 2022 (01:00 PM ET)

Professionals

Debtors' Counsel BAYARD, P.A.

Debtors' Co-Counsel ROPES & GRAY LLP

Debtors' Financial Advisor FTI CONSULTING

Debtors’ Investment Banker EVERCORE GROUP L.L.C.

Proposed Debtors’ Investment Banker EVERCORE PARNERS INTERNATIONAL LLP

Court Information

United States Bankruptcy Court
for the District of Delaware

824 Market Street North
3rd Floor
Wilmington, DE 19801
302.252.2900